What to do if insurance company not providing interest on delay

I booked a flat in virar Mumbai under the "life ka chance" offer in july 2016. In this life ka chance offer, ekta world through advertisements and initial sales process assured home buyers that they will be covered by a third-party insurance in case of delay of delivery (Fit-out) with a 9% P. A. Interest by the insurance company. I have already paid 82% of the flat cost 25.65 lacs. My wings fit-out date was august 2017. However there was no work done in my wing from july 2016 to august 2017. In august 2017 i was told that there is a 6 months grace period and by february 2018 if the wing is ready upto fit out then i will be eligible to get interest. In february 2018  i was told that builder has paid the premium but the insurance company which covered this interest for delay is closed. The offer advertisement is available.

Answers (1)

59 votes

First of all appoint a lawyer, before that issue letter to the concerned Office raising all your greveinces . On failure, to the higher authority then also if doesn’t work then issue a legal notice. Hopefully this will solve your problem

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Property Lawyers

Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
19 years Experience
Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
32 years Experience
Advocate Saifuddin Saifee
Maharani Road, Indore
18 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
18 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.

Related Articles

"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Similar questions

Dear Sir, I have purchased an under construction property, which is scheduled to be ready for possession by December 2017. I wanted to know whether sh…

Read More

We have formed a resident welfare association (RWA) under Karnataka Society Registration Act 1960 (act 17 of 1960) .The builder and landowner executed…

Read More

I have a flat in township of approximate 1000 flats. My flat was in last phase of the township and I got the possession of the same in 2014. New flats…

Read More

Sir I am in process of buying a office. The property is under construction. The builder has registered it as IT offices. Now my question is whether a …

Read More